No-collar pension⚒️🤔
Hello Venturer,
What comes to mind once you hear the word pension? First, I think of old age and government workers. Sadly, this is subconscious programming due to the frequent news about the government and pensioners.
I also think about other workers in the formal sector like bankers, lawyers, journalists, etc. But, like you and many other people, I rarely imagine pension and informal workers in the same sentence.
The informal sector, mostly comprised of small and medium enterprises, is a major driver of the African market, but workers in the sector do not enjoy pension and other financial benefits. This week, we have a story about a man building a financial ecosystem to provide informal workers with long-term financial security.
Also, this week, we are adding a new section to our newsletter - VA Weekly Collectables. The weekly collectable is a curation of interesting, informative, and relatable content from across the web by the VA team. We know you'll love it.
Adekunle Agbetiloye
Staff Writer, Ventures Africa.
What's New
Tunji Andrews is building a pension platform for Nigeria's informal sector.
The informal sector, mostly comprised of small and medium enterprises (SMEs), is a major driver of the African market, accounting for nearly a trillion dollars in yearly sales and $2.6 trillion in nominal GDP. Despite its huge contribution to the economy, players in the sector lack the necessary infrastructure to scale up their businesses and living standards. Economist and financial inclusion advocate Tunji Andrews is building a solution to provide these players with long term financial security. Read more.
Beyond speculation, what more can NFTs do for Africans?
Africans are now becoming more interested in NFTs. A survey by Finder ranks Nigeria as the 6th largest adopter of NFTs and South Africa as 12th. The survey also hints that NFT adoption will more than double in these countries due to the high interest among respondents. Presently, most people are flooding the NFT space for speculative reasons. However, Africans can do more with NFTs than flipping digital arts for quick profits. Read more.
What is Nigeria's economic outlook for six of its key sectors in 2022?
As with every year, several economic promises and predictions are in for the year, one of which is that the long-awaited Nigeria Air will launch on April 22, 2022. Another is that Nigeria’s economy will grow 2.7 per cent. Last year, the International Monetary Fund predicted a 2.6 per cent growth for Nigeria’s economy. But at the end of Q3 2021, the nation reported a 4.03 per cent growth. Based on significant happenings in the past year, here are some things we can expect in different sectors this year. Read more.
How blockchain can help transform agriculture in Africa.
Last year, a blockchain-based cattle traceability system brought end-to-end visibility to the cattle supply chain in the country. Zimbabwean farmers could once again prove the origin and health records of their cattle. This helped foster renewed trust in Zimbabwean cattle farming and re-established Zimbabwe’s beef exportation credibility. This is just one of the several benefits of blockchain in agriculture. Learn more.
Mastercard expands its business intelligence platform for financial institutions in the MEA .
Mastercard has announced the expansion of its new interactive business intelligence platform Mastercard Market Trends in the Middle East and Africa. The new platform provides a comprehensive view of payments insights, competitive intelligence and industry trends for banks and financial institutions across the world and now within the Middle East and Africa. Read more.
Our Weekly Collectables
If there is a cheap pill to slow down ageing, would you take it? Before you say yes, watch this short explainer video on metformin as a possible anti-ageing drug.
Are you having a hard time understanding why NFTs exist at all and are not sure how to feel about it? The Internet Is Just Investment Banking Now is a good read for you.
Would you ever consider going to therapy with a friend? In Therapy with Friends, two best friends realised they were drifting apart, so they asked a psychotherapist for help.
An elderly woman loses $500,000 to hackers. She's certain it was the Russians. She's right. Darkode uses light humour to expose the intricacies of cybercrime and organised hacking.
#VANUGGET
“The opportunities are in the problem. The moment I see a problem, I immediately begin to think about the opportunities that can be created by trying to solve it.” - Strive Masiyiwa, Chairman, Econet Global.
Remember to stay safe!
